Ex-BoE Official: Trump May Weaponize Payment Systems

Jon Cunliffe, a former official from the Bank of England, worries the U.S. might use its control of money systems to pressure other countries, like a 'kill switch' for money.

Many countries use U.S. payment systems like Visa and Mastercard, making them vulnerable.

Some nations are rethinking if they can trust the U.S. system, given Trump's past actions.

This concern came as Trump started a visit to Britain.

The BoE and ECB have also asked lenders to assess their need for U.S. dollars amid the uncertainty.

Cunliffe believes U.S. policymakers would act to prevent a financial crisis.